Lykke & Nxchange to Launch New Tokenized Securities Exchange

Lykke, a Switzerland-based developer of a blockchain-enabled ”global marketplace for the free exchange of financial assets”, and Nxchange, a “regulated market / multilateral trading facility-licensed” Dutch securities exchange platform, have partnered to launch a Europe-based regulated tokenized securities exchange.

According to the announcement’s press release, the partnership will involve Lykke becoming an equity shareholder in Nxchange.

The development of the new securities exchange platform will be funded by Lykke.

Trading Cryptoassets, Equities, Bonds, Investment Products

Notably, the exchange will use proprietary blockchain-enabled “cryptoasset trading infrastructure” developed by Lykke. Nxchange is expected to contribute to the project by helping to “facilitate safe and regulated trading” on the new tokenized securities exchange.

Investors will be able access “a far greater and more diverse variety of financial assets” via the regulated platform, and the Lykke Nxchange wallet will be provided to users so that they can “access and store digital assets on the exchange.”

Any asset or security such as traditional equities, bonds, loans, and investment products may be “tokenized and traded” on Lykke and Nxchange’s blockchain-powered trading platform.

Moreover, the exchange will use “embedded” smart contracts to “guarantee the rights of all users” – which includes the distribution of dividends, “voting rights”, and “asset ownership.”

A “More Equitable And Democratic Financial World”

Nxchange has also partnered with ABN Amro, the third largest bank in the Netherlands, in order to develop a distributed ledger technology (DLT) based bank account. It will be used to settle transactions in “real-time against fiat currencies” – which will be held in the “custody of ABN Amro clearing bank.”

Commenting on the development of the tokenized securities exchange, Richard Olsen, the founder of Lykke Corp. and futures commission merchant, OANDA, said:

This is a historic day – not only for Lykke and Nxchange as companies – but for our broader shared vision that is targeted at a more equitable and democratic financial world. The increasing acceptance of digital assets and blockchain infrastructure as the technology of the future correctly comes with a greater emphasis on regulation and compliance. This partnership envisages to satisfy all these things while still bringing all the benefits of transformative technology to any individual who wishes to access or exchange anything of value.

“Real-Time, 24/7, Transparent” Capital Market Transactions

Marleen Evertsz, the founder and CEO of Nxchange, remarked: 

We believe that the time has come for a more modern form of capital market transactions: efficient, real-time, 24/7, transparent, and supported by compliance procedures that assure maximum security. We are delighted to partner with Lykke and to join forces in building the Next Generation Stock Exchange.

As CryptoGlobe reported recently, South Korea-based crypto exchange, Bithumb, and American crowdfunding platform, SeriesOne, have announced that they will be launching a US-based securities token exchange.

The exchange is expected to go live in early 2019.

Three Thai Siblings Accused of $24 Million Bitcoin Scam Plead ‘Not Guilty’

Three Thai citizens who are currently being prosecuted for allegedly swindling $24 million worth of Bitcoin (BTC) have pleaded “not guilty” in the Criminal Court of Bangkok, major Thai newspaper Bangkok Post reports Wednesday, Nov. 7.

During the hearings, Thai prosecutors accused the three defendants and six accomplices of defrauding 21-year-old Finnish investor Aamai Otava Saarimaa back in 2017. According to the investigation, he was persuaded to buy shares in Expay Software Co, invest in a gambling-focused crypto token Dragon Coin (DRG), and buy 500 million shares in DNA (2002) Co, which he consequently did by transferring crypto to the siblings’ wallets.

The prosecutors claim that after receiving the money, the Jaravijit family bought several blocks of land in Thailand. Saarimaa, in his turn, received no profit and later complained to the Thai Crime Suppression Division (CSD).

The three Jaravijit siblings, charged with conspiracy to defraud and money laundering, have recently pleaded “not guilty.”

Two of the siblings, Jiratpisit (a Thai actor known as “Boom”) and Supitcha, were arrested in August and then released on bail of $61,000 each. Their elder brother, Prinya Jaravijit, managed to flee to the U.S. in an attempt to avoid the charges.

However, in October, the Thai CSD revoked the Prinya Jaravijit’s passport — making his stay in the U.S. illegal — in order to force his return. After arriving in Bangkok, Jaravajit was then detained without bail and is currently being held in the Bangkok Remand Prison.

Bitmain a Day Away from Opening Antminer S15 Sales

Welcome to Cryptovest, a leading source of cryptocurrency information. The crypto space’s many nuances present challenges in making knowledge decisions, such as the best coins and investments. We provide information to help you take full advantage of this cutting-edge industry.

EOS Price Analysis – November 7


EOS Price Analysis – November 7


Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

EOSUSD Price Medium-term Trend: Bullish

Supply zones: $9.00, $10.00, $11.00

Demand zones: $3.00, $2.00, $1.00

EOS is in a bullish trend in its medium-term outlook. The bulls have maintained consistency since 31st of October after breaking the 10-EMA and price has been on the north journey. The flags formation that brought back the bulls much stronger is also characteristic of the price in the medium term. The bullish railroad after the flag formation on 5th November brought back the bulls as EOSUSD was up at $5.79 in the supply area before the end of the session on 6th November.

Todays’ 4-hour opening candle at $5.78 was a bearish inverted hammer suggesting the bears’ return. This is creating another flag that will bring back the bulls. The price is above the two EMAs and the EMAs are fanned apart which implies strength in the trend,

As more candles formed and closed above the two EMAs due to the bullish pressure, a retest of $6.01 in the supply area may occur. This will be the fourth touch and a breakout is likely as the bulls continue the journey north.

EOSUSD Price Short-term Trend: Bullish

Eos, EOSUSD, Cryptocompare chartEOS Chart by TradingView

EOS continues in its bullish trend in its short-term outlook. The two EMAs have been acting as strong support for the bulls upward price movement in the short-term. The bullish 1-hour opening candle at $5.48 was on the 10-EMA and its second touch on the EMA led to the large engulfing candle at $5.51. This pushed EOUSUSD initially to $5.61 and later to $5.76 in the supply area.  Drawdown to the EMA due to the bears’ pressure occurred before the end of yesterday’s session.

Sustained bullish momentum after the 1-hour opening candle pushed the price up to $5.83 in the supply area as the retracement by the bears set in. The price is hovering around the 10-EMA but above the 50-EMA. A minor pullback may occur before uptrend continuation as the stochastic oscillator signal points down which imply downward price movement in the short-term.


The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

It’s Hard to Short Crypto – And That’s Propping Up Prices, Study Finds

The contentious nature of the ecosystem around cryptocurrencies is partly what gives them value – academics call it “belief heterogenity.”

But discord and personal sentiment alone isn’t enough to keep prices above zero, according to research from Wang Chun Wei, Ph.D., a finance lecturer at the University of Queensland in Australia. According to Wei, if it was easier to bet against cryptocurrency prices through short positions – when someone borrows, then sells an asset with the expectation of buying it back at a lower price in an effort to make a profit on the difference  –  more of those assets would go to zero.

“Daily volatility of bitcoin is around four percent. This is too high to be simply based on informational changes in fundamental value,” Wei, who previously studied whether Tether’s controversial stablecoin, USDT, could be used to prop up the price of bitcoin, told CoinDesk.

As such, to investigate a better explanation for this observation, Wei looked at coins that most people would agree should be worth zero: cryptocurrencies believed to be either jokes or scams.

His latest investigation into crypto values, first published in October, confirmed a longstanding theory of finance – something called the resale option hypothesis – at least partly explains why cryptocurrencies are valued the way they are today.

The resale option hypothesis, which originated in 2003 from Princeton researchers Jose Scheinkman and Wei Xiong, argues that an asset tends to favor the most optimistic participants in a market (those with long bets) when two conditions persist: lots of disagreement about price and impediments to shorting the asset.

“Both conditions exist in the crypto market,” Wei said.

Without easy ways for people to short then, the market favors the long position.

Wei told CoinDesk:

“The hope that you can sell it to someone for more than what you paid for is an important factor driving cryptocurrency prices.”

What moves markets?

While Wei conducted his study on altcoins – particularly those with shady reputations – he reasoned that what he found should also explain some of the strangeness behind bitcoin’s price movements.

For much of its history, the exact reasons for bitcoin’s price moves haven’t been readily apparent – these fundamentals mysterious even to the most devout maximalist.

Wei studied three baskets of cryptocurrencies: mainstream coins, alleged scams and outright jokes.

The mainstream basket included seven cryptocurrencies, such as bitcoin, ethereum, litecoin and XRP.

The list of less-than-savory coins included the Ponzi scheme-tied Bitconnect, Urocoin (originally pitched as a coin for farmers) and ParagonCoin (a cannabis industry everything-coin).

The joke-coin list featured dogecoin, RonPaulCoin and Useless Ethereum Token (UET) – the latter which wasn’t a true “scam” because its creator was forthright about his intention to take investor funds and run.

According to Wei, differences of opinion help illuminate why joke coins tend to hold on to their price a bit longer than cryptocurrencies identified as fraudulent. While fraudulent tokens might hold onto their value even as suspicions mount, that eventually changes as the hustle is definitively revealed.

“Once it becomes crystal clear that there’s no fundamental value, then you lose belief dispersion and the resale option value plummets,” Wei wrote in the paper.

But if a coin was made in jest – without maliciousness – who’s to say it couldn’t be viewed as valuable regardless? he reasoned.

Testing the value

So, how can this price effect be seen for the cryptocurrencies with bigger market capitalizations and wider network effects?

Resale option value is, in itself, difficult to pin down.

“There’s no precise way of calculating resale option value,” Wei wrote.

In his paper, he tested “the statistical significance of the interactions between turnover, traded price and realized volatility” to infer a value.

And based on that analysis, the hypothesis does apply to more mainstream coins.

“We find mainstream cryptocurrencies, such as bitcoin, ethereum and [XRP], test positive to the resale option test,” Weid said. “This suggests that the price-volume relationship for mainstream cryptocurrencies exhibit speculative behavior, and thus it is unlikely that traded price for these cryptocurrencies reflect only fundamental value.”

Indeed, according to Wei, the market got something of a real-world test of this idea recently as bitcoin futures began to trade on major markets starting at the end of last year.

Wei told CoinDesk:

“Theoretically, the introduction of shorting instruments should reduce the resale option value, and consequently reduce bitcoin price (the latter which we can see clearly).”

Shorting options will soon expand for other cryptocurrencies as well. For example, Dydx is offering tokens for shorting, and crypto startup Compound has created a borrowing market that can be used for shorting coins.

If Wei’s analysis proves accurate, that could increase pressure on more of the tokens that have been able to maintain higher prices.

As Wei wrote in the paper, “Overall, we provide ample empirical evidence in support of anecdotal claims that cryptocurrency prices are supported by the hope of selling it to somebody else at a higher price.”

Price screen image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Up $100: Bitcoin Price Indicators Grow Increasingly Bullish

Bitcoin (BTC) looks likely to inch higher toward $6,800 in the near-term, as the technical indicators have grown increasingly bullish in the last 24 hours.

Notably, the 14-day relative strength index (RSI), which measures the speed and change of price movements, has jumped to 59.04 – the highest level since Sept. 4.

A reading above 50 indicates that bullish forces are acting on the security. So, it seems safe to say that the leading cryptocurrency is looking most bullish in two months.

At press time, BTC is changing hands at $6,510 on Coinbase, representing a $100 or 1.5 percent gain on a 24-hour basis.

The current position of the RSI is indeed encouraging for the bulls. Technical analysts, however, may argue that calling a bullish move on the basis of RSI alone is a risky business, as the indicator occasionally produces fake signals.

While that is true, in BTC’s case, other indicators are also biased toward the bulls. Hence, we can confidently place our trust in the RSI.

Daily chart

As can be seen above, BTC has cleared the stiff 50-day exponential moving average (EMA) hurdle today, having witnessed a bullish symmetrical triangle breakout over the weekend.

The 5-day and 10-day EMAs are trending north, indicating a bullish setup.

Further, BTC is currently trading above the upper Bollinger band of $6,500 and a breakout would be confirmed if prices see a UTC close above that level.

What’s more, the moving average convergence divergence (MACD) histogram is rising, indicating scope for further gains.

To sum up, both price action and the technical indicators are validating the bullish signals given by the RSI.


  • The odds are stacked in favor of a rally to $6,800 in the near-term.
  • A break above 50-day simple moving average (SMA) of $6,642 on the 3-day chart would mark the beginning of the long-awaited bullish reversal, as discussed yesterday.
  • A UTC below the ascending (bullish) 10-day EMA of $6,400 would weaken the bullish pressure.

Disclosure: The author holds no cryptocurrency assets at the time of writing.

Bitcoin image via CoinDesk archives; Charts by Trading View 

Join 10,000+ traders who come to us to be their eyes on the charts and sign up for Markets Daily, sent Monday-Friday. By signing up, you agree to our terms & conditions and privacy policy

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Ethereum Ecosystem Continues To Swell: MetaMask Rolls Out New Features

MetaMask, the startup behind a world-renowned Ethereum client, recently announced an array of features aimed at bettering the consumer experience and bolstering the adoption levels of crypto assets.

ConsenSys-backed MetaMask Rolls Out Privacy Mode

During Ethereum’s earliest days, when the network will still amidst its “Frontier” phase, many users struggled with interacting with the blockchain’s smart contracts and decentralized applications (dApps), which were, simply put, a dime a dozen. Now, although the presence of dApps on the aforementioned blockchain hasn’t faded (far from in fact), innovators within the budding blockchain ecosystem have developed solutions to meet consumer concerns.

One such solution to the aforementioned issue has been created by MetaMask, a ConsenSys-backed crypto firm, which has since released an Ethereum client that shares the company name. The client, one of the first applications built solely for the Ethereum ecosystem, allows for its users to store, send, and receive Ether, along with facilitating users’ interactions with the “world computer,” as the Ethereum Network has been dubbed on occasion.

While MetaMask, which currently exists as a web browser add-on for Google Chrome, Opera, and Firefox, has gained boatloads of users, the piece of innovative software isn’t without its flaws.

Currently, through the use of a short line of code written in JavaScript, MetaMask allows any Ethereum-related website to garner pertinent user data, such as specific addresses and Ether balances, without prior warning. As put by Bobby Dresser, who works with MetaMask’s product & operations department, “when it comes to user privacy, this behavior is less than perfect.”

Although this isn’t an issue with well-respected Ethereum-focused applications and websites, like Augur, for example, malicious parties could use data it garners to “fingerprint, phish, or track” naive consumers, who may not be prepared for such an attack.

But now, as revealed in a blog post from Dresser, issued on November 5th, users of MetaMask will now have an option to enable “privacy mode,” which will require websites to prompt users before accessing private data.

This may sound like an irrelevant improvement, one that should be cast aside, but, many see this as a promising step towards the arrival of privacy-consciousness in the crypto space. Jameson Lopp, a long-time Bitcoin innovator, has been at the forefront for the fight for personal privacy and safety in the “surveillance age,” especially in regards to those affiliated with crypto. And although he may not be an overt supporter of Ethereum, his attention to detail when it comes to privacy isn’t something that should be disregarded in this nascent industry, which can be rife with bad actors, malicious players, and the like.

MetaMask Hits 1.3 Million Downloads: Aims For More Adoption With Mobile Client

As reported by NewsBTC previously, MetaMask recently surpassed a mammoth milestone, with the startup’s application now claiming a jaw-dropping 1.3 million downloads to its name. This news, revealed by one of the startup’s occasional status updates, indicates that Ethereum’s sphere of influence continues to swell, even amid bearish market conditions and cries for lower lows.

However, in spite of the aforementioned now-breached milestone, the thirst for growth from MetaMask’s 18 full-time employees has seemingly remained unquenched.

Just recently, at Devcon4, the Olympics of Ethereum, so to speak, MetaMask representatives revealed that the firm is poised to launch a mobile application, which was a long time coming. This newfangled client should hopefully fill the growing gap for smartphone-based crypto applications, especially in regards to dApps and smart contracts.

So watch out, MetaMask seems to be dotting the i’s and crossing the t’s in preparation for the resurgence of the Ethereum ecosystem, which may be denoted by crypto’s next bull run.

Featured Image from Metamask









易理华:实际上因为市场的关系,这几个月中国Tokenfund大家都不投了。我们内部也有一个调整,我算了一下,我们都是自有资金投资,今年真金白银投了6个亿出去,可能相对于以太还可以,但如果以法币计价,我们将近亏损一半。 因为我们算是这个行业里面为数不多的真正用自己的钱去投入、支持区块链项目的,但很多项目出问题,令我们很失望,所以我们在一级市场就减少了投资这一块。








这是纯Arbitrage,如果算上Market Making,他们可以是同一个市场的Premium,就是一个此消彼长的过程。这两个肯定是叠加在一起的,如果你的团队够好的话,Market Making应该会比Arbitrage要高一点,但是它的市场容量非常有限,这种算是中高频策略。但是它市场容量是有限的,如果再加上CTA那就不一样,CTA是做多β,在极端环境之下就会有一个比较好的表现。



从管理角度来讲,国内一些传统市场和基金的leader或者是总经理,也都愿意以各种形式加入到TAMC中来。我每星期会办一个会去观察它的净值,我们有一套Private Broker的系统,接了每一个Fund的净值,当它低于它回撤的Limitation,我就会叫停。有异常或者表现不好我也会叫停,会有一些公共手段,我的Portfolio Manager全权代表我,但我有一票否决权。






















有些人曾经问过我,交易难道不是一个零和游戏,有人赚就有人亏?这件事情从整体100%交易者来说确实是这么一回事,但如果只做中性策略就不该如此,我做的是现货多角套利、期现套利、跨期套利、Market making策略,这些应该都是市场里面相对无风险的溢价。市场交易量在下降的过程中,能够投的团队肯定越来越少,所以缩小投资量是一定的,也应该是正确的一个做法。























楼霁月:我对吴忌寒的评价和他是两样,其实讲到币安,他们评价CZ赵长鹏,“He moves so fast”,我也觉得是这样。这个市场,如果说三五年之后还有一个华裔屹立不倒,我认为是赵长鹏





王峰:咱们说说今年的情况,现在Security Token这个机会有多大?因为我也做投资,现在做公链、做安全项目的太多了,我在美国和一个做安全的哥大教授聊过,他大概从2月份开始陆续融资,都7月底融了快5000万美金,美国有好几个教授创业项目,但这样背景的项目眼下都不好融资,你觉得现在最大的机会是不是STO?



现在我认为STO对加密货币行业有帮助作用,但我不会想all in这块,因为本来全世界优质的互联网企业也就很少,值得投资的是非常少的,就投头部的,腾讯、阿里、谷歌从上市就一直投,就够了,其他企业大部分都会死掉。






楼霁月:我现在和一些稳定币也有合作,其实目前STO不只有美国SEC监管之下的Security token,有些团队就在离岸一个小岛上布局,他们超过了美国证监会的监管范围,也有合规投资者,门槛很低,并不是完全按照类证券来管理,所以还是有很大的一个投资空间。





我们跟欧洲最大的公募平台Token Market的人交流时问他们最想从中国得到什么?我以为他会说中国市场投资者,他说是好的项目,他想要B轮、C轮的好现金流的企业。包括纳斯达克也在看STO市场,大家都不想放过这块肥肉,只是这件事情跟Token关系并不大,它跟证券和股权的这些公司的关系更大而已



楼霁月:不止交易所,比如HRT每一年要挣几十亿上百亿,但可能在数字货币放了几千万美金,但这个回报率太高了,华尔街最保守的量化对冲基金Two Sigma也进来了。
























楼霁月:什么样的创业者好?从我自己角度来说,反正我觉得资历太浅、太年轻了不行,太优秀了也不行,一路很顺的这种肯定不行,遇到什么事情过不去。 我的终极信仰,是做一个好人。在没进入这个行业之前,我从小到大很顺,进入了这个行业就开始有黑稿,也遇到一些事情。你只有很强大,才可以做一个好人我经常分享杨绛《我们仨》那篇文章里很经典的一段,在这世上做一个好人实在不易。我觉得做人,如果你自己不强大就很容易被别人欺负,你稍微强大一点,还是很容易被别人欺负。






LD Group董事长、了得资本创始人。主要定位为区块链领域的基础设施服务,包括5个业务方向:了得资本负责战略布局和重大投资、猎人资本负责孵化投行和创新投资、乾景集团负责品牌营销服务、几维金服负责区块链金融和钱包、天机阁负责区块链技术研究和转化。








Sunny King | Dawn Song | 朱嘉伟

  赵长鹏 | V神 | 吴忌寒 | 赵明 | 周鸿祎 

  罗永浩 | 老猫 | 蔡文胜 | 孙宇晨 | 郑刚

  赵东 | 蒋涛 | 陈榕 | 宝二爷 | 杨宁 | 朱啸虎

  李笑来 | 曾鸣 陈伟星 | 帅初 | 薛蛮子 



Israel’s Central Bank ‘Not Recommended’ to Issue Own Digital Currency

An Israeli study group exploring digital currency options has recommended that the country’s central bank not issue its own token, a press release confirmed Nov. 6.

The interdepartmental team, set up in November 2017 by the governor of the Bank of Israel to “examine the issue of central bank digital currencies [CBDCs],” revealed its findings in a full report this week.

“Central banks around the world are examining the possibility of issuing digital currency and/or using distributed technologies in the payment systems, but no advanced economy has yet issued digital currency for broad use,” it summarizes, adding:

“The team does not recommend that the Bank of Israel issue digital currency in the near future. It is necessary to continue examining the field and to follow developments around the world before there are proper grounds for a decision to recommend issuing digital currency.”

The result comes as little surprise for the banking sector, multiple jurisdictions including the European Union similarly deciding this year that the atmosphere was not conducive to launching a central bank digital asset for the time being.

In a communique in September, the European Central Bank highlighted the continued popularity of cash and a lack of full risk assessment as key factors behind its decision.

However, a Cointelegraph analysis of the possibilities for CBDCs showed that the People’s Bank of China (PBoC) has been actively looking into the technology, as well as the Bank of Canada and Sweden’s central bank.

Israel has continued to adopt a proactive approach to cryptocurrency more generally this year, with the Supreme Court in February preventing banks from deliberately jettisoning ties with industry businesses.

Hackers Breach Popular Web Analytics Site to Target Crypto Exchange

Cryptocurrency exchange was apparently the target of hackers who compromised a widely used web analytics platform this week.

According to a report from internet security firm ESET on Tuesday, bad actors compromised popular, Ireland-based web analytics site StatCounter, in an attempt to steal bitcoin from the exchange’s customers.

The attackers managed to inject malicious code into the script of StatCounter webpage, having also registered a domain very similar to the official one. The fake domain swapped two letters from the original to form “StatConuter”, which can be difficult to spot while scanning for unusual activity, says ESET, adding that the domain had previously been suspended in 2010 for association with abusive behaviour.

StatCounter is used by more than two million websites, according to its own figures, and it provides statistics on billions of web hits daily.  The fake account managed to get picked up by a number of sites, although seems to have been the only target.

The report states that the script targets a specific uniform resource identifier (URI): “myaccount/withdraw/BTC.”

“It turns out that among the different cryptocurrency exchanges live at time of writing, only has a valid page with this URI. Thus, this exchange seems to be the main target of this attack,” it concludes.

The URI is notably used by to transfer bitcoin from its own account to an external bitcoin address, according to the report.

The script automatically replaces the user’s bitcoin address with one belonging to the attackers, the report indicates.

As the malicious server generates a new bitcoin address each time a visitor loads the StatConuter script, “it is hard to see how many bitcoins have been transferred to the attackers,” the researchers say.

After being notified by ESET about the breach, announced Wednesday that it “immediately removed” the StatCounter service from its site, and stressed that the users’ funds are “safe.”

CoinMarketCap data indicates that is the 38th largest crypto exchange globally by adjusted trading volume.

Hacker image via Shutterstock 

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.